E-retailers report strong sales on GOSF Day 1
GOSF partners see traffic & sales jump 4 to 5 times more than an average day
GOSF partners seem to be a happy bunch, by the end of the first day of the shopping festival, many of them had seen traffic as high as 4-5 times a normal day on an average. With such a good start, the e-retailers we spoke to are hopeful that this year, sales and visits will be much in excess of GOSF 2013.
Saurabh Kochhar, MD and Co-Founder of Printvenue.com said his brand saw a 30% increase in traffic on Day 1.
“With the launch of GOSF, we have witnessed 40-45% surge in traffic today compared to last Wednesday. However, the best is yet to come with the weekend approaching. We are quite excited about the next 2 days and are expecting 60-80% hike in sales,” said Rohit Chadda, MD and Co-Founder of Foodpanda.
Fabfurnish.com also saw a 150% increase in revenue with a 400% rise in revenue on the first day. “The company expects sales to jump by 304 times by the end of GOSF,” said Vikram Chopra, Founder and CEO of Fabfurnish.com. Pepperfry, another e-retailer that concentrates on home decor and furniture; a category that is pretty different from the traditional products that usually work on e-commerce, saw a doubling of traffic.
Kashyap Vadapalli, CMO of Pepperfry.com told us that he expected to see about 10-12 days worth of sales during the three days of GOSF. To witness this in a category, which Vadapalli admits sees more considered purchases rather than impulsive buying is remarkable.
Praveen Sinha, Co-founder and MD of Jabong attributes this surge in traffic to the changing nature of consumers, where even first-time buyers are comfortable ordering for a wide variety of products online. Jabong itself saw an 8x increase in traffic over a normal day with a 5-6x increase as compared to GOSF 2013. When asked for his thoughts on what could be the final statistics, SInha said he expected the bigger players to see at least a 5 times growth in visits with at least a 2-2.5 times growth over the Diwali period. “The most important thing we saw was a 6x increase in mobile website visits, which shows that the public has now accepted the mobile as a medium for shopping,” he opined.
CouponDunia also saw an increase in traffic that was 4x of a normal day. However, Sameer Parwani, CEO and Founder of the company was a bit more critical of GOSF 2014. According to him, the response has been more lukewarm as compared to last year. “One of the reasons for this is the kind and number of deals merchants provided compared to GOSF last year or even for that matter deals during Diwali a few months back. GOSF 2014 deals were both less in number and not providing as deep discounts as we’d expected,” he said. Myntra, for example, which is one of the larger players in the fray is offering a maximum discount of 30%.
Irrespective of this, the smaller players still are optimistic given the strong performance seen on the first day. For example, Myntra competitor, Fashionandyou.com saw a 3 times jump in traffic and a 4x jump in sales, informed Manav Narula, GM (Marketing) of Fashionandyou.com, further stating that he expected sales to jump 5x over the next two days.
“When the GOSF offers went live at 12 midnight, our site saw a 200% surge in traffic and close to 250% increase in sales within the first 90 minutes and in 3 hours we had done sales for nearly 3 regular days on the site. ShopClues got a terrific response last year with triple-digit increase in sales and this year the start has been even better and will likely see extraordinary results in the remaining 2 days of the GOSF. We expect traffic to surge by 120% and 180-200% rise in sales over GOSF 2013,” said Sanjay Sethi, Co-Founder & CEO, ShopClues.
Similarly, Peyush Bansal, CEO and Founder of Lenskart.com said the sales had doubled on the first day for certain categories, a trend he expected to see over the next two days as well.
“We have recorded a four times increase in sales, across HomeShop18 platforms. We also saw a doubling of call flow and a jump in average order value by 32% during GOSF,” informed Sundeep Malhotra, CEO and founder, HomeShop18.
How successful GOSF 2014 was can only be answered after we see what the final sales figures were for the players but from the statistics that have been shared for the first day, it seems it will be a good end to the year for most of the e-retailers. More importantly, it shows that interest and confidence in e-commerce and m-commerce is seeing strong growth in the country.
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